This Guy Believes Bitcoin Will Become A Reserve Asset And He Has Points To Prove It

2018-12-2 21:34

Twitter has always been a hot space especially when influential people make posts about controversial stuff. One of the most controversial subjects of social media discussion today revolves about cryptocurrencies – and Bitcoin, to be precise.

Bitcoin has long been touted as heading towards achieving the coveted status of a global currency, although there have been some stumbling blocks on its way. However, there are people within the crypto community who are willing to bet their whole online reputation on Bitcoin. One of such people just tweeted something that has crypto enthusiasts sitting up and taking notice.

The Tweet

In a tweet, Tuur Demeester didn’t mince his words in expressing his full conviction that Bitcoin is about to be accepted as a reserve asset. To put his point across, Tuur outlined a few facts about Bitcoin that makes the top crypto viable for the said position.

First, he mentioned the fact that Bitcoin has been in existed for a whole decade, having been the pioneer cryptocurrency. Besides that, Bitcoin is a secure network with a stable and growing stack of functional protocols that foster user sovereignty and transactional privacy. It has a great liquidity cycle that makes it attractive for adoption by institutions. Also, Bitcoin is politically neutral.  Tuur made sure to mention all these facts in his argument.

What Others Say

Tuur’s tweet went viral in an instant, reaching over 1,700 people who liked it and getting retweeted over 500 times. Numerous others came down to contribute on the thread.

However, there are a few who expressed some level of skepticism about Tuur’s apparent projection, saying that Bitcoin is yet to jump all the hurdles in its way to such top position. For instance, one user explained that for the crypto to be approved as a valid Reserve Asset, it needs to first win the battle of adoption and be widely accepted as cash. Someone else noted that around 40% of Bitcoins are owned by only about 1,000 people. From a critical standpoint, that would obviously stand in the way of the crypto achieving the said goal.

There wasn’t a shortage of Bitcoin supporters on this thread. One user said that the fact that Bitcoin has been has around for long and records huge volumes every day is proof enough that its system works and it’s here to stay.

The post This Guy Believes Bitcoin Will Become A Reserve Asset And He Has Points To Prove It appeared first on ZyCrypto.

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